Beacon Roofing Supply (NASDAQ:BECN) Cut to “Hold” at Baird R W

Baird R W downgraded shares of Beacon Roofing Supply (NASDAQ:BECN) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other research firms also recently weighed in on BECN. Robert W. Baird boosted their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Loop Capital reissued a “hold” rating and set a $124.00 price target on shares of Beacon Roofing Supply in a research note on Friday. BMO Capital Markets decreased their price objective on shares of Beacon Roofing Supply from $136.00 to $130.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. William Blair restated a “market perform” rating on shares of Beacon Roofing Supply in a report on Thursday. Finally, Stifel Nicolaus cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating and decreased their price objective for the company from $131.00 to $122.55 in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $120.95.

Beacon Roofing Supply Trading Down 0.0 %

BECN opened at $123.77 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.91 and a quick ratio of 1.14. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 21.16 and a beta of 1.63. The firm has a 50 day simple moving average of $117.35 and a 200 day simple moving average of $104.59. Beacon Roofing Supply has a fifty-two week low of $77.54 and a fifty-two week high of $123.90.

Beacon Roofing Supply (NASDAQ:BECN) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, sell-side analysts anticipate that Beacon Roofing Supply will post 7.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Beacon Roofing Supply by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 615,174 shares of the company’s stock valued at $62,489,000 after buying an additional 11,426 shares during the period. Intech Investment Management LLC acquired a new position in shares of Beacon Roofing Supply in the third quarter valued at approximately $1,441,000. Raymond James Financial Inc. acquired a new position in shares of Beacon Roofing Supply in the fourth quarter valued at approximately $24,162,000. Barclays PLC boosted its holdings in shares of Beacon Roofing Supply by 272.0% in the third quarter. Barclays PLC now owns 122,024 shares of the company’s stock valued at $10,547,000 after buying an additional 89,222 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Beacon Roofing Supply by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 1,014,087 shares of the company’s stock valued at $103,011,000 after buying an additional 20,372 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.